Nigeria World Oil Reserves by region 49% Middle East 8% Africa 3% Asia & Oceania 13% North America 20% Central and South America 2
1% Europe 7% Eurasia 30-33% in the Americas, one third o Production: who is making it Top 10 oil-producing countries accounted for 65% of the world’s oil production Top oil producers #1 Russia o 11 million barrels a day #2 Saudi Arabia o 10 million barrels a day #3 U.S. o 8.5 million barrels a day o import about another 10-11 million barrels #4 Iran #5 China #6 Canada #7 Iraq #8 UAE #9 Venezuela #10 Mexico For the next decade Russia and Saudi Arabia will be the top producers of oil o Importer: who needs it The people who consume the most The richest most industrialized places that don’t have a lot of oil themselves Top oil importers #1 European Union (24-28 countries) o 12 million barrels of oil a day #1 country: United States o 8-10 million barrels of oil a day #2 China #3 India #4 Japan #5 South Korea #6 Germany o Exporter: who makes the money on it Top Oil Exporters Saudi Arabia o 93% of budget revenues o 90% of export earnings o 55% of GDP 3
Russia Iran o
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- Fall '08
- Saudi Arabia, motor oil